Recall that on 24th Jan 2014, we issued a technical “Buy” call on ECS when the share price rebounded from the trend channel support. Five months down the road, although the share price took a longer-than-expected time frame to realize our target, it has finally hit our technical TP of RM1.42 yesterday. Chart-wise, there appears to be a “Long Day” candlestick on the back of a spike in trading volume. While the technical chart is still showing signs of bullishness, we would prefer a safer bet and choose to take profit at our initial TP of RM1.42. We shall revisit the stock should there is further signs of bullish momentum, moving forward.

 

Source: Kenanga